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Omnicom price target lowered to $96 from $104 at JPMorgan

JPMorgan analyst David Karnovsky lowered the firm’s price target on Omnicom (OMC) to $96 from $104 and keeps an Overweight rating on the shares. The firm updated estimates ahead of the Q2 report. JPMorgan reduced ad agency numbers after an update from WPP called out macro uncertainty among other items as weighing on results and its outlook.

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